KATHMANDU, March 15: Nepal Telecommunications Authority (NTA) has asked the internet service providers (ISPs) to disable the online platforms being used for digital investment and gambling.
Issuing a public notice on Monday, the regulator asked the ISPs to halt or blacklist the websites and apps that are being used for transactions of cryptocurrency, bitcoin and hyper networking and online gambling, among others. According to the NTA, it has stepped up efforts for the move after the Ministry of Finance urged the regulator to adopt measures curbing transactions via the virtual means.
At present, the government is on a ‘rocky road’ to control the online-based illegal transactions. In the past few months, the police unveiled a number of cases related to such transactions. It has been suspected that a growing number of such transactions have led to capital flight, aggravating the declining foreign currency reserves with the country.